JB Capital LLC Takes Position in Accenture PLC $ACN

JB Capital LLC purchased a new position in Accenture PLC (NYSE:ACN) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 11,077 shares of the information technology services provider’s stock, valued at approximately $2,972,000.

Several other institutional investors also recently bought and sold shares of ACN. Capital International Investors raised its holdings in Accenture by 41.1% in the third quarter. Capital International Investors now owns 17,128,134 shares of the information technology services provider’s stock worth $4,223,839,000 after buying an additional 4,984,930 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Accenture during the third quarter valued at approximately $311,694,000. Massachusetts Financial Services Co. MA increased its position in shares of Accenture by 12.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,147,796 shares of the information technology services provider’s stock valued at $2,502,446,000 after acquiring an additional 1,148,970 shares in the last quarter. Capital World Investors bought a new stake in shares of Accenture during the third quarter valued at approximately $268,578,000. Finally, First Trust Advisors LP raised its holdings in Accenture by 85.9% in the 3rd quarter. First Trust Advisors LP now owns 2,041,945 shares of the information technology services provider’s stock worth $503,544,000 after acquiring an additional 943,371 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Julie Spellman Sweet sold 6,057 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $241.23, for a total value of $1,461,130.11. Following the transaction, the chief executive officer owned 15,255 shares in the company, valued at $3,679,963.65. This represents a 28.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Catherine Kiernan Hogan sold 660 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $280.93, for a total transaction of $185,413.80. Following the completion of the transaction, the chief operating officer directly owned 12,688 shares in the company, valued at approximately $3,564,439.84. The trade was a 4.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 22,088 shares of company stock worth $5,970,434. Company insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

ACN has been the topic of several recent analyst reports. Mizuho cut their target price on Accenture from $309.00 to $280.00 and set an “outperform” rating on the stock in a research note on Monday, March 23rd. UBS Group restated a “buy” rating on shares of Accenture in a research note on Tuesday, March 17th. Truist Financial dropped their price objective on Accenture from $317.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on Accenture from $280.00 to $230.00 and set a “hold” rating for the company in a report on Friday, March 6th. Finally, Susquehanna upped their target price on shares of Accenture from $270.00 to $277.00 and gave the company a “neutral” rating in a research note on Friday, December 19th. Eighteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and a consensus price target of $274.88.

Accenture Price Performance

Shares of ACN opened at $201.18 on Friday. The firm has a fifty day simple moving average of $217.22 and a two-hundred day simple moving average of $243.19. The firm has a market cap of $133.87 billion, a PE ratio of 16.48, a P/E/G ratio of 1.91 and a beta of 1.24. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. Accenture PLC has a 1-year low of $187.00 and a 1-year high of $325.71.

Accenture (NYSE:ACN) last released its quarterly earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the business posted $2.82 EPS. On average, equities analysts anticipate that Accenture PLC will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 9th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Thursday, April 9th. Accenture’s payout ratio is currently 53.40%.

About Accenture

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.